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DAVIS v. ALWAC INTERNATIONAL, INC.

No. 6545.

369 S.W.2d 797 (1963)

Felix A. DAVIS v. ALWAC INTERNATIONAL, INC., et al.

Court of Civil Appeals of Texas, Beaumont.

Rehearing Denied June 26, 1963.

Attorney(s) appearing for the Case

Nowlin Randolph, Houston, for appellant.

Baker, Botts, Andrews & Sheperd, Houston, for appellees.

McNEILL, Justice.

Monorail, Inc., was organized in Houston in 1955 to develop monorail transportation. Its three moving spirits from mid 1955 through September, 1959, were Murel Goodell, president, Weldon Appelt, a vice president, and appellant Felix A. Davis, a vice president, director and member of the company's executive committee. By 1957 Monorail, Inc., was in financial straits. Knowing that the Swedish international...

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